Rheinmetall AG : Q2 2024 preview – Acceleration of the pace of growth and solid orders (but in line with expectations)
>Solid order intake - On track for a backlog of € 60bn+ at the end of FY 2024, in line with expectations - At the group pre-close call, the company pointed out that nominations could reach the € 40bn threshold in FY 2024, including € 10bn to € 11bn in Q2 alone (ODDO BHF: € 39.6bn and € 11.5bn respectively), which could push the backlog above € 60bn at the end of December. In Q2, Germany remained the main customer with, notably, the c€ 8.5bn framework contract for the ...Rheinmetall is a holding company. Through its subsidiaries, Co. operates in two sectors: defence and automotive. Co.'s defence sector is comprised of three divisions: combat systems, engaging in armored tracked vehicles and NBC protection systems; electronic solutions, engaging in air defence systems and soldier systems; and wheeled vehicles, engaging in wheeled logistics vehicles and wheeled tactical vehicles. Co.'s automotive sector is comprised of three division: mechatronics, engaging in cutting emissions and air management systems; hardparts, engaging in pistons and plain bearings and bushes; and motorservice, which includes aftermarket activities for replacement parts business.
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